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Where would those tourists stay if they didn't use AirBnB? I can see where the residents may get priced out of a certain area because short term rental drives u
by zip1234 8y ago
Where would those tourists stay if they didn't use AirBnB? I can see where the residents may get priced out of a certain area because short term rental drives up the price, but the increase demand and higher prices should stimulate new construction. Now, if height restrictions are causing no new construction to be built, then perhaps the city should ease those so more housing can be built, driving the prices down. The 'character' of Manhattan isn't going to be ruined by higher building heights.
- alonmower 8y agoIn hotels? Further away? It'd be more expensive or more inconvenient so fewer would come, but residents wouldn't be bearing the negative externalities as much as they are today. I live in SF so while I wholeheartedly agree that more building should help solve the problem the reality (here at least) is that existing homeowners have strong incentives to oppose rezoning and new development as it might hurt their home's values. Many people have overextended to be able to buy here that anything that could cause dips in prices is vehemently opposed. I'll admit SF has a broader set of issues at play here but AirBnB just further strains an already strained situation.